OKEx Review : OKEx Pros & Coins & Is Safe or Not?

If you need more information about OKEx including FAQs, guides, documentation, or to submit a support request, please visit the OKEx Support Center. OKEx believes the blockchain technology will eliminate barriers to transactions, increase the efficiency of transactions across society, and eventually have a significant impact on the global economy. We strive to achieve something that changes the world and never stop to innovate and improve on our customer experience. From your first crypto trade to your first NFT purchase, you’ll have us to guide you through the process.

• This ensures that users have substantial flexibility when deploying their investment strategies.
• Therefore, the platform charges fixed interest rates on any position held overnight.
• Even in an industry where trading fees are typically low across the board, OKX has some of the best value with its tiered system.
• However, OKX provides competitive trading fees and good opportunities for high-yield staking, and its friendliness to beginners is a positive touch.
• Weigh the pros and cons to make an informed decision about whether OKX is your crypto trading haven.
• When compared to Binance, the OKX app has better security measures and access to the Web3 Wallet, but Binance has a wider range of payment options and better fiat on and off-ramp support.

Signing Up for an OKX Account

Unfortunately, there is no way to deposit fiat into OKX without immediately converting it into cryptocurrency, so you can’t hold your dollars in an account while waiting for the right time to strike. If that’s your style, your best options are to buy a stablecoin like Tether (USDT) or hold your money in a third-party crypto wallet (which we recommend you do anyway). You have to pay to withdraw currency from your crypto wallet, but the costs aren’t fixed. Instead, the OKX platform calculates withdrawal fees on a case-by-case basis, “based on the complexity of completing the transaction.” More complex trades equal higher fees.

Uncovering Pros & Cons of OKX App: A Comprehensive Review

Getting started with the app is straightforward, requiring users to create an account and undergo KYC verification. The app offers various features such as buying crypto with a card, converting crypto, and accessing different trading areas. The OKX exchange platform offers a native wallet that is accessible by simply downloading the wallet application separately. Moreover, the wallet supports 36 digital assets, multiple vaults and integrates seamlessly with the main OKX trading application. OKX has continued to evolve and adapt to the times by expanding the services it offers.

A Range of Crypto Trading Solutions

As mentioned in the Pros section, the OKX app has a huge selection of advanced crypto trading products and features available, which can be a double-edged sword. One of the major advantages of the OKX app is its user-friendly interface. The app is well-designed in terms of drop-down menus and icon placement, https://www.tokenexus.com/ making it intuitive and easy to navigate. Whether you’re a beginner or an experienced trader, you will find it fairly straightforward to use the OKX app and find your way around. The app is available for both iOS and Android devices, and you can download it from the App Store or Google Play.

• Additionally, the company has built the OKX Risk Shield, a reserve similar to Binance’s SAFU fund designed to ensure that customers remain whole even if a bad actor compromises the exchange.
• These cryptocurrency instruments are traded with an agreement between two parties to exchange the asset on a predetermined date.
• The first step involves signing up on the platform and creating an account.
• Similar to many other exchanges, OKEx has created its own token called OKB.
• The other 5% of funds are kept with their servers in a “hot” environment to meet the demand for withdrawals/deposits.
• This has got everything you need to know, from simple trading guides to more advanced resources such as how to trade options and futures and bespoke trading strategies and general crypto info.

Supported Cryptocurrencies and Trading Pairs

When a user submits a bid that can’t be filled right away, they add liquidity and pay lower fees as a maker. If a user places an immediate order at the current market price, they’re a taker and must pay more to compensate for the liquidity they’re removing. Perhaps worse than the 2020 arrest incident is a 2018 investigation by crypto trader Sylvain Ribes, which argued that OKX (then OKEx) had faked 93.6% of its total trading volume. Ribes measured several trading pairs for “slippage,” the factor by which selling a certain cryptocurrency reduces its price. Whether you’re new to cryptocurrency or looking for a new exchange, you may have heard of OKX (formerly known as OKEx).

OKX Perpetual Swaps

Customer Support and Reviews

• You will see an overview of all of the PUTs and CALLs and the different expiries.
• However, providers frequently change aspects of their services, so if you see an inaccuracy in a fact-checked article, please email us at feedback[at]cloudwards[dot]net.
• Okay, that sums up the trading features of OKX; let’s look at what else the platform has to offer.
• If you are looking for a simple no-frills crypto app, I would recommend SwissBorg or Kraken as being the most beginner-friendly.
• There are hundreds of scammers pretending to be customer support, so remember that no support staff will ever ask for passwords, private keys, secret phrases, or ask for you to send them funds.